STEP Energy Services (TSE:STEP) Trading Up 8.3% After Analyst Upgrade

STEP Energy Services Ltd. (TSE:STEP) rose 8.3% during mid-day trading on Thursday after BMO Capital Markets raised their price target on the stock from C$4.75 to C$5.00. The stock traded as high as C$4.40 and last traded at C$4.32. Approximately 111,958 shares traded hands during mid-day trading, a decline of 5% from the average daily volume of 117,968 shares. The stock had previously closed at C$3.99.

A number of other research analysts have also recently issued reports on STEP. Raymond James lowered their price target on shares of STEP Energy Services from C$6.25 to C$5.50 and set an “outperform” rating for the company in a research report on Wednesday, March 13th. Royal Bank of Canada reduced their price target on STEP Energy Services from C$5.50 to C$4.75 and set a “sector perform” rating for the company in a report on Wednesday, March 13th. Stifel Nicolaus lowered STEP Energy Services from a “buy” rating to a “hold” rating and lowered their price target for the stock from C$6.00 to C$4.50 in a research report on Wednesday, March 13th. Finally, ATB Capital reduced their price objective on shares of STEP Energy Services from C$7.00 to C$6.50 in a research note on Monday, April 8th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of C$5.46.

Insider Transactions at STEP Energy Services

In other STEP Energy Services news, Senior Officer Stephen Murray Glanville purchased 14,000 shares of the firm’s stock in a transaction on Tuesday, March 19th. The shares were acquired at an average cost of C$3.59 per share, with a total value of C$50,293.60. Corporate insiders own 0.37% of the company’s stock.

STEP Energy Services Stock Up 6.8 %

The firm has a market cap of C$305.91 million, a P/E ratio of 6.36 and a beta of 2.17. The company’s 50-day simple moving average is C$3.93 and its 200 day simple moving average is C$4.06. The company has a debt-to-equity ratio of 32.47, a current ratio of 1.37 and a quick ratio of 1.11.

About STEP Energy Services

STEP Energy Services Ltd., an energy services company, provides integrated coiled tubing, fluid and nitrogen pumping, and hydraulic fracturing to service oil and natural gas industry in Canada and the United States. It also provides fluid pumping services for coiled tubing operations and involved in standalone projects; pipeline commissioning and maintenance services; fracturing logistics services; and laboratory services.